SM Energy Announces Closing of Acquisition of North Dakota Assets
DENVER--(BUSINESS WIRE)-- SM Energy Company (NYSE: SM) today announces that the Company has completed its previously announced acquisition of North Dakota Gooseneck assets from Baytex Energy USA. The cash paid at closing was approximately $325 million as a result of normal closing adjustments to account for activity between the effective and closing dates. The acquisition was funded from borrowings under the Company’s existing credit facility.
ABOUT THE COMPANY
SM Energy Company is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in onshore North America. SM Energy routinely posts important information about the Company on its website. For more information about SM Energy, please visit its website at www.sm-energy.com.
Source: SM Energy Company
Released September 24, 2014